Meanwhile, Chairman of the Iran-Oman Joint Chamber of Commerce, Mohsen Zarrabi, sees an increase in Iran’s export to the Sultanate with the value of exports touching $600 million by the end of March this year.

Launch of direct shipping line between Iran and Oman has facilitated increase of Iran’s exports to Oman, the official added. He said the countries are also expected to invest in Chabahar Free Trade Zone on joint venture. The Sultanate banks will provide 50 per cent of finance needed for the projects, Zarrabi added.